Difference between revisions of "Remaining Oil Reserves"
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Reserves are those quantities of petroleum claimed to be commercially recoverable by application of development projects to known accumulations under defined conditions. Reserves must satisfy four criteria: | Reserves are those quantities of petroleum claimed to be commercially recoverable by application of development projects to known accumulations under defined conditions. Reserves must satisfy four criteria: | ||
- discovered through one or more exploratory wells | - discovered through one or more exploratory wells | ||
- recoverable using existing technology | - recoverable using existing technology | ||
- commercially viable | - commercially viable | ||
- remaining in the ground | - remaining in the ground | ||
All reserve estimates involve uncertainty, depending on the amount of reliable geologic and engineering data available and the interpretation of those data. The relative degree of uncertainty can be expressed by dividing reserves into two principal classifications – proved and unproved. | |||
All reserve estimates involve uncertainty, depending on the amount of reliable geologic and engineering data available and the interpretation of those data. The relative degree of uncertainty can be expressed by dividing reserves into two principal classifications – proved and unproved. Unproved reserves can further be divided into two subcategories – probable and possible to indicate the relative degree of uncertainty about their existence. | |||
==Enablers:== | ==Enablers:== | ||
Revision as of 20:13, 14 September 2009
Remaining Oil Reserves:
Description:
Oil reserves are the estimated quantities of crude oil that are claimed to be recoverable under existing economic and operating conditions. http://en.wikipedia.org/wiki/Oil_reserves
Classification: Reserves are those quantities of petroleum claimed to be commercially recoverable by application of development projects to known accumulations under defined conditions. Reserves must satisfy four criteria:
- discovered through one or more exploratory wells - recoverable using existing technology - commercially viable - remaining in the ground
All reserve estimates involve uncertainty, depending on the amount of reliable geologic and engineering data available and the interpretation of those data. The relative degree of uncertainty can be expressed by dividing reserves into two principal classifications – proved and unproved. Unproved reserves can further be divided into two subcategories – probable and possible to indicate the relative degree of uncertainty about their existence.
Enablers:
- xxxxx
Inhibitors:
- xxxxx
Paradigms:
xxxxx
Experts:
Timing:
Web Resources:
Oil Reserves http://en.wikipedia.org/wiki/Oil_reserves